Jackson EMC is set to refund customers a total of $15 million in margins this month.
A release from the cooperative Friday said the money will be distributed among roughly 235,000 customers who paid for Jackson EMC services in the years 1996, 1997, 1998 and/or 2022. The amount refunded to each individual customer will be based on how much that customer paid Jackson EMC during those years.
Friday's release said the years were chosen so that: "former, long-term and newer members benefit from belonging to an electric cooperative."
Overall, officials said this December's refund will bring the total amount refunded by the cooperative to $204 million since its founding in 1938.
“Jackson EMC operates at cost, which means our primary focus is member service, not profits. Crossing the $200 million mark in returned margin refunds this year shows Jackson EMC’s long history of keeping the cooperative financially strong to deliver safe, reliable and affordable electricity for its members,” Rodney Chandler, chairman of the Jackson EMC Board of Directors said.
More information about the refunds can be found on Jackson EMC's website.
